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Interim Report Q3 2013

POYLTEC GROUP's total sales declined by 3.0% to EUR 116.1 million in the third quarter 2013 compared to the same period of the previous year. However, in the automotive segment this development varied according to business segment.
In the passenger car business, total sales increased by 4.5% to EUR 71.7 million in the period under review compared to the same period of the previous year, whereas sales in the commercial vehicle business dropped by 13.0% to EUR 34.2 million. In both, this positive and negative development - compared to the same period of the previous year - was mainly attributable to a significant change in tooling sales. Part sales in both the passenger car and commercial vehicle segments matched the previous year's level (Q3 2012).
The non-automotive business showed a different picture. In the period under review, total sales registered a significant drop of 12.3% mainly due to the downward trend in the garden furniture business, as reported in the interim report for the first half 2013, as well as to sales declines related to a major customer (transport boxes). This drop in sales in the non-automotive business had a negative impact on Group's results for the third quarter 2013. Restructuring costs totaling EUR 1.2 million, which are shown separately in the profit and loss statement, refer to expenses in connection with the phase-out of garden furniture production at the business site in Ebensee.
EBIT before restructuring costs declined by EUR 2.1 million to EUR 4.8 million in the third quarter 2013. This corresponds to an EBIT margin of 4.1%. As in the previous quarter higher than planned operating expenses in connection with several injection molding projects and related material and personnel cost overruns had a negative impact on group results.
The tax ratio of the POLYTEC GROUP amounted to 21.2% for the first nine months 2013. All in all, taking one-off effects into account, the POLYTEC GROUP reported a net result of EUR 10.0 million in the period under review. This corresponds to earnings per share of EUR 0.43 compared to EUR 0.75 in the previous year.




With regard to the fourth quarter of 2013, the Management of POLYTEC Holding expects a stable operating development. However, expenses for the restructuring of the Ebensee business site will negatively impact results for the second half of the year. The Group's operating result before restructuring costs, which will be shown separately in the profit and loss statement, is expected to match the level of the first half-year 2013.

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